Inven­tory management

Inven­tory manage­ment involves moni­to­ring and mana­ging stock levels to ensure that there are always enough pro­ducts to meet demand wit­hout crea­ting exces­sive stock levels. Effec­tive inven­tory manage­ment also takes into account fac­tors such as safety stocks, minimum order quan­ti­ties and sto­rage costs. The aim is to mini­mise the amount of capital tied up in stock while maxi­mi­sing the ability to deliver. In prac­tice, inven­tory manage­ment also includes regular stock­ta­king and con­trol as well as the use of inven­tory tracking soft­ware. Modern tech­no­lo­gies such as RFID and bar­code scan­ning also play a decisive role here in order to increase the accu­racy of inven­tory data and improve the effi­ci­ency of warehouse processes.